Cyprus Citizenship by Investment Program

Cyprus is an island with an eventful history and a rich culture. Geographically, it is located between Africa, Europe, and Asia continents and thus it is a major trading post in the East Mediterranean zone. Even though the island boasts of having a low cost of living, it is ranked at No. 23 in the world in terms of quality of life.

In addition to making an investment, the applicant must:

have a valid passport

provide proof of source and origin of the declared funds for investment

have no criminal history

not be on the list of persons whose property is ordered to be frozen within the boundaries of the EU

Investor Options
1. Direct Investment
Applicant must make a direct investment of at least €5 million in the purchase of one of the below:

Property

Businesses or companies

Financial assets

Maintain ownership of assets for a period of 3 years

2. Bank Deposit
Have a fixed term deposit of at least €5 million for at least 3 years in a bank in Cyprus

3. Collective Investment programs of at least €2.5 million each i.e. the applicant must hold a permanent privately-owned residence in Cyprus, with the purchase price being at least €500,000 plus applicable VAT and should choose one of the prescribed investment options and maintain it for the required duration.

Benefits Of The Program

Fast-track procedure allowing for European Citizenship in 3 months.

As a citizen of Cyprus, you are automatically a citizen of the European Union (EU) and entitled to consular protection and support from any EU consulate globally.

The Cypriot passport allows for visa free travel to 159 countries worldwide including the EU, UK and Canada.

Freedom to study in schools or universities across the EU for free or at discounted rates exclusive for EU nationals.

Unrestricted right to live and work in Europe with access to state of the art healthcare.

One of the lowest taxation rates in Europe with no foreign income tax, inheritance tax and withholding tax on interest earned.

Trade freely across all 28 EU countries and a market of over 500 million people.

Dependent children under 28 years qualify for citizenship on the basis of their parents’ applications provided they are in consecutive levels of education e.g. Bachelors, Masters, PhD or with severe physical or mental disabilities.

Citizenship can be passed to future generations by descent

Cyprus Residence Permit is issued within 5 days from the submission of a joint application for residency and citizenship by investment.

Qualifications

The applicant must hold a valid passport

Applicants must not hold criminal record

The applicant must be non EU National

The applicant must be over 18

The applicant must make the appropriate investment

The applicant must possess a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500,000, plus (VAT)

Chosen investments must be retained at least three years after gaining the Cypriot nationality

The applicant should have made the necessary investments within the three years preceding the date of the submission of the Citizenship application

The applicant must provide proofs supporting the source and origin of the declared funds for the investment

The applicant, prior to his/her naturalization as a Cypriot citizen must hold a residence permit in Cyprus. If not, the simultaneous application for both residency and citizenship for non-residents

Main applicant’s parents can be included, provided an additional investment of minimum €500,000 be made in residential property.

Investment Options
The applicant must own a permanent residence in Cyprus with a minimum value of € 500,000 (excluding VAT) in addition to the one of the following investment schemes with maintaining it for the required duration of 3 years.

1) Investment in Real Estate, Land Development and Infrastructure projects: The applicant must invest at least €2 million for the purchase or construction of immovable property or development creation such as residential or commercial developments, developments in the tourism sector or other infrastructure projects In cases where the applicant invests at least €2 million in one or more residential properties then the applicant is not required to further purchase another residence

2) Investment in Financial Assets of Cypriot Companies or Cypriot Organizations:
The applicant must invest €2 million in order to purchase, create or participate in businesses or companies based and operating in the Republic of Cyprus. These businesses or companies must have a physical presence in Cyprus, substantial activity and a significant turnover and must also employ at least 5 Cypriot citizens or European Union citizens who during the five years preceding the filing of the application were residing in the Republic of Cyprus;

3) Investment in Alternative Investment Funds or Financial Assets of Cypriot Companies or Cypriot Organizations that are licensed by CYSEC:
The applicant must invest at least €2 million in Alternative Investment Funds established in Cyprus, licensed and supervised by the Cyprus Securities and Exchange Commission and exclusively making their investments in the Republic of Cyprus.

4) Combination of the aforementioned investments:
The applicant may proceed with a combination of the above, provided that the total investment will amount to a minimum of €2 million
Within this criterion, the applicant may include the purchase of special government bonds of the Republic of Cyprus of up to EUR 500,000.

WWICS Global Law Offices is one of the World's leading resettlement service providers. At present, it has more than 30 offices located at various international and national locations. The Asian headquarter of WWICS is at Mohali, Punjab, India and the global headquarter is at Dubai. The company was started back in 1993 with only two offices; one was in Chandigarh, India and the other at Toronto, Canada.